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Search Results 0 to 26 of about 27 (some duplicates have been removed)
cliff as americans on all levels have to prepare to take the tax hit. hope it doesn't, but i'm going to break it down next. ♪ gerri: i always like to give you the straight poop on everything, and, today, i'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clients have about the expiration of the bush tax cuts and the cut backs on spending. money is worried, concernend many are selling as you've seen. to read the stories of the press on the fiscal cliff, well, you'd think change is on the horizon just 33 days away, well, it doesn't maer much. in fact, just sit back, relax. the fiscal cliff is not a big deal. i'll quote one here. it's unlikely all of these bad things happen or stay in effect for an extended period of time. pundits call if the fiscal cliff smoke that is, instead o a cliff, the rising support for junking the fiscal approach as confusing and renaming it the austerity crisis or bomb. that's it. according to the u.s. news and world report, give the cliff another nam
president obama has seen these polls. so if there is a fiscal cliff and we go over it, the american public are likely to blame the republicans. >> well, that's absolutely true, piers. we've had an election and the clearest debate and the clearest difference in that election was over the question of whether the rich should pay more and tax rates should go up on the rich. everybody who paid any attention at all knows that the top 2% are now taking home a larger share of total income and wealth in this country than they have in over 80 years and are paying the lowest effective tax rate they paid in over a half a century. we also have a looming budget deficit. so you don't have to really be a rocket scientist to understand that the rich do have to pay more. taxes do have to be raised on the rich and i think that's why over 60% of the public in these polls are not only supportive of a tax increase on the rich, but also will blame the republicans if we go over the fiscal cliff. and this gives frankly, this gives the white house and this gives the obama administration much more bargaining leverag
for the wealthy and quote, sticks the middle class with the bill. so with 29 days to go until the fiscal cliff, what would it take to get a deal? joining me now, men on opposite sides, grover norquist, president of americans for tax reform and robert reish, former secretary of labor for president bill clinton and the author of "beyond outrage." none of the three of us are beyond outrage, grover norquist, which is why i keep having you back. the situation it seems to me as an impartial observer here is that both sides have now made fairly ludicrous offers that they know the other side is never going to accept in a million years. that does beg the question, grover, why bother, given that both sides know where they need to move, why the games? >> well, it's not clear that both sides know. the week after the election, president obama was asked do you have to have the higher rates or could we have deductions and credits and he said he was open to negotiations. three weeks later, after thanksgiving, he shows up and all of a sudden there's a line in the sand on rates that had come out of nowhere, so
correspondent of "time." with the fiscal cliff on the horizon, americans are learning a lot about the politicians their hired. my final thoughts on this, the tax pledge standing in the way of compromise when we get back. you're watching "your money." helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> this is it, the famous tax pledge we have been talking about created by grover norquist back when ronald reagan was president. timed have changed since then. i had hair back then. some lawmakers are starting to understand it's not just low tax rates that matter.
are wasting precious time here to avert the fiscal cliff. was this the intended effect of the president's first offer? >> what we're trying to do is to make it more likely. we come together on a good agreement for the american people that extends tax cuts to the american people. brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting americans back to work. we think we can do that. we have a good chance, and it's very important. and i think we'll get there, david. >> do you think we'll get a deal by the end of the year? >> i do. because the only thing standing in the way of that is a refusal by republicans to accept that rates have to go up on the wealthiest americans. and i don't really see them doing that. >> the idea that they have signalled something significant for them, which is -- >> what is that? >> putting revenue on the table. >> it's welcome that they are recognizing that revenues are going to have to go up. but they haven't told us anything about how far rates shoul
's go over the fiscal cliff and show the american people who is responsible. >> unfortunately, democrats tend to be the responsible party in terms of actually wanting to governor. it's no surprise that when republicans are in power, government doesn't function well. >> they hate it. >> why would you make something operate well that you don't like? we have to remember why we are here. this is the piece of the story that is forgotten over and over again. the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch the right, it the more it looks like something is going to have to budge over there. you look at the pugh poll that
house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk manageme
story -- now our fourth story "outfront." the fiscal cliff. dissension within the ranks. it seems not all republican lawmakers and conservative groups are in lockstep with john boehner. earlier i spoke with one gop house member who hasn't been on the same wave length as the speaker recently. he's in senior leadership. here's what deputy whip congressman tom cole told me about those who in the party say taxes shouldn't be on the table. >> for those who say we're putting revenue on the table, the american people did that when they elected, you know, the president and a democratic senate again. again, they have to agree to a deal or tax rates on everybody go up. i think we shouldn't -- we should do everything we can to avoid that for as many people as we possibly can. >> "outfront" tonight, grover norquist, whose anti tax pledge signed by most sitting republican lawmakers on capitol hill has been a major point of contention in this debate. grover, let me start by asking you something congressman tom cole said. he said it's the american people who spoke. this was central to the presid
on these fiscal cliff negotiations is starting to get controversial. the president urging americans to go to twitter and tweet my2k. do you know what it means? if you are on twitter and you want to get a conversation going you can do hash tag which is the pound sign and then put something in. in this case they want you to put in my2k which is my $2,000 if we go over the cliff. republicans says this ignores larger issues including out-of-control spend and entitlements. conservative think tanks are using hash tag my2k possibly making the online debate more complex. we are learning what went on behind closed doors at a senate homeland security briefing on the deadly terror attack on our consulate in libya. our next guest was inside that room. ron johnson joins me now. senator, welcome to the program. what can you tell us about this morning and what we learned. did the ball get advanced into this investigation in benghazi? >> i came away from that hearing with the conclusion that this administration mislead the american public for a couple weeks after that attack and used ambassador rice as t
americans use food stamps in august. that cost nearly $72 billion. so when you hear about the fiscal cliff and you hear about possible cuts to entitlements, did this experience change your view of that? >> i would say it changed my view. look i've been someone that wants to support the entire community no matter what neighborhood you live in, no market what your socio-economic background. i was challenged by a local nonprofit to take this challenge to make me a stronger leader and i happily accepted that challenge and it was a good learning experience. it was only a week. it's not the same thing of having to live on food stamps full time. that's brutally difficult to go jool your tummy isn't as full as it needs to be. i get that it was only a week. it helped me be a better policymaker. >> you kept a diary of your experience. i want to read a little bit of your entry from day four. i'm facing a long hungry day and an even longer night getting dinner on the table which requires making everything from scratch on this budget. it's only for a week so i've got a decent attitude. if i were doing
to do their part to continue campaign. calling on all americans to raise awareness about the fiscal cliff, to get in touch with their congressmen to tweet my2k. here he was doing this in small businessville, pennsylvania just yesterday. >> it's not acceptable to me. i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage because they don't want tax rates on upper income folks to go up. that doesn't make sense. >> in addition to rounding up the voters, he deployed tim geithner to the hill. he just know that leader pelosi is letting house democrats know they better not pull a fredo during negotiations. the president's offer was this. $1.6 trillion in tax increases, a hefty $50 billion in mortgage relief, infrastructure investments. extension of unemployment insurance and a deferral of cuts to medication payments to physicians. oh, yeah, no more debt ceiling fights. he is going to take that one off of congress' plate all together. there is a claim of about $400 billion in entitlement savings. they carry no guarantee and
with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you really want in return? not revenue-neutral. real tax increases. what do you want in return?
without an increase in tax rates for the wealthiest americans and if that meant going over the fiscal cliff republicans would be to blame. so nancy pelosi, little scamp that she is, she is threatening -- [ ♪ "world news tonight" ♪ ] she threatens to force a vote if the republicans don't act on the middle class tax cuts. tee-hee. i'm guessing boehner is going to be -- >> flabbergasted. >> it has never been done before. >> ever. flabbergasting. >> it is flabbergasting. >> stephanie: flabbergastacious. >> i'm impressed by your flabbergastivity. >> stephanie: lindsey graham went on to say we'll lose everything we know as america if we don't fix entitlements. we're becoming the greece of out-of-control spending. [ ♪ dramatic ♪ ] >> it in no way does that. >> stephanie: shut down that argument. the spending graphs of who -- >> nonsense. >> also, greece is falling apart because of the austerity programs implemented by the inf and the world bank. >> stephanie: we have references on that. they're wrong wrong wro
of this republican majority is to solve the fiscal cliff once and for all and put us on a path to grow the economy. >> we are 34 days away from what would be the largest tax increase in american history, and the speaker boehner and the republicans have put forward a balanced plan that would prevent that from happening and not devastate our economy at a time when our economy continues to struggle and people are having a tough time finding work. we need to take action that will insure that small-business owners all across this country continue to be able to survive. many have said that the president's approach in raising taxes would act to devastate the economy. ernst and young estimated jobs lost -- a plan that would cut nearly 1 million jobs is a nonstarter. we are working to find a better way. a common-sense way. we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and
say, well, the majority of american people want these tax cuts for the 98% or does this make him toxic? >> i think there is a time for politics and a time for governing. we are now approaching this fiscal cliff. it is time to govern. this election was a mandate for solutions. it was a mandate for consensus and compromise. house democrats have already said we would compromise. we want to get to higher ground with the republicans. i hope that speaker boehner will also see the handwriting on the wall and enforcing discipline in his own caucus and try and meet us in a compromise that reduces spending smartly, that pays down our deficit, that protects the middle class and that grows this economy again. we can do this if he is willing to compromise. today, he said, once again, he is not willing to compromise. >> here we go, round 14 or whatever it is. congressman steve israel, great to have you with us tonight. thanks so much. >>> the republican smear campaign against ambassador, susan rice, continues as more senators pile on. karen finney weighs in on what's the next best move then? the tim
analysis, a, most americans don't understand what the fiscal cliff is or the impact that it could bring or do you think it's because they believe that ultimately we will get a deal by december 31st? >> well, as you say, it's a bit of a mystery why confidence is so high. it may have something to do with the housing market and house prices being up around most of the country. that probably does help confidence some. i expect as you point out that most people probably don't have on their radar how large a tax hit we could have early next year if the fiscal cliff actually materializes. so it is a mystery. it does seem like right now consumers aren't too worried about the fiscal cliff. >> at what point do you get concerned? it sounds like perhaps a risk of revisions to q-4 estimates to the downside at this point because as the negotiations grind on and we approach year end, it might reach more of the forefront of consumers' mind and they may pull back. are you concerned about that impact? >> i am. right now we only have october data in hand. and fiscal cliff fears really accelerated in novem
the national dialog is focused on the fiscal cliff which has the potential to significantly affect state budgets many governors are also tackling the implementation of obama care. starting in 2014 medicaid will be expanded to all americans within 138% of the poverty line, which is individuals making $15,000 a year or less, give health care to as many as 21 million additional americans. eight governors including one of those at the white house today, oklahoma republican governor mary fallin are rejecting the offer, concerned their states may have to foot the bill down the road. the president was sure to have some thoughts following their pow wow at the white house. the six governors are on to meet with house speaker john boehner and senate majority leader harry reid this afternoon, also sure to have some thoughts. joy, the medicare question is really interesting in terms of how the governors play this one. in so far as, if you're a republican governor and offered the federal -- the federal government says it's going to cover i believe 100% of the cost of expanding the rolls from 2014 to 2
me now. treasury secretary timothy geithner, president obama's point man in these fiscal cliff negotiations, ran the gauntlet this morning. he appeared on all five sunday talk shows, including "meet the press" of course, what else did he say? >> craig, you know if we're in the posturing stage and a lot of people think we're still in the posturing stage with, 29 or 30 days to go. we better hope that they're just posturing, because after the period of optimism, the post-election talk of compromise, you remember john boehner came out the day after the election, the president spoke about compromise as well. they're as far apart as they ever have been and the clock is ticking. what timothy geithner said is as follows, nothing is going to get done unless republicans agree to raise rates on the wealthiest 2% of americans we know the figure by now. those couples filing jointly making more than $250,000. the rates must rise, not a matter of closing loopholes or deductions or simplifying the tax code this is the way it has to be to meet their revenue goals. contrary to what mitch mcconne
up on the wealthiest americans. and i don't really see them doing that. >> if the republicans say sorry, no way are we going to raise rates on the wealthy, you guys are willing to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in himself, admitting talks are going nowhere. speaker boehner also described the moment when secretary geithner first showed him the president's opening offer. >> i was just flabbergasted. i looked at him and said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually
of the congressional black caucus, believe it or not, do not agree 100% on how to solve the so-called fiscal cliff situation. but, there is 100% agreement, 100% agreement, among congressional black caucus leaders, that we do not want an austerity cliff where we have -- where this leads to increased poverty and exacerbates the hardship for low and middle class families. and that the wealthiest individuals and corporations should have to pay their fair share of taxes. as a member of the budget committee and the democratic chair of the congressional caucus for women's issues, i have a lot of thoughts on the fiscal cliff negotiations. first of all, we must include a robust extension of federal unemployment benefits for workers. mr. scott, has there ever been a time when the unemployment rate, 7.%, has ever been this high and on a bipartisan basis, on a bipartisan basis, this congress has not provided extended unemployment basis for workers? mr. scott: if the gentlelady would yield. the practice that we would -- it is generally the practice we would extend emergency unemployment compensation for longer
Search Results 0 to 26 of about 27 (some duplicates have been removed)